Cramer: 5 Earnings to Watch Wednesday

In terms of corporate earnings, Wednesday should prove to be yet another busy day. What follows is "Mad Money" host Jim Cramer's "Game Plan."

Time Warner will kick things off with an earnings announcement at 7 a.m. ET, followed by an earnings conference call at 10:30 a.m. ET. Cramer thinks CEO Jeffrey Bewkes has done a great job of running the media and entertainment company, even if its stock is only up 5 percent for the year. Nevertheless, he thinks executives will provide a positive outlook.

CVS Caremark has an earnings conference all scheduled for 8:30 a.m. ET. The Woonsocket, R.I.-based company operates more than 7,000 drug stores across the United States. Rival Walgreen has been losing customers thanks to its ongoing dispute with pharmacy benefits manager Express Scripts . Cramer thinks many of these customers are going to CVS and it seems others agree, as the stock has been hitting new highs lately. If CVS executives have positive commentary, Cramer suspects its stock could continue to push higher.

Later that morning, Garmin will conduct its earnings conference call at 10:30 ET. The Schaffhausen, Switzerland-based company makes a variety of scientific and technical instruments, but is probably best known for its global positioning system-enabled products. Cramer was surprised to hear these GPS devices have been “selling like flapjacks” and the short-sellers can’t believe it either. He thinks the company will do “quite well,” though.

Allergan , the company behind one of Cramer’s favorite growth stocks, will host its earnings conference call at 11 a.m. ET. The Irvine, Calif.-based company specializes in many areas of health care. It develops and sells a variety of products, such as pharmaceuticals, Botox, silicone breast implants, Juvederm Voluma, and Latisse eyelash thickener.

According to a study recently published in the Journal of the American Medical Association, the main ingredient in Botox may be modestly helpful for people with chronic migraines, but the wrinkle treatment doesn't seem to offer much relief for those whose headaches are less frequent. Cramer isn’t too worried about the findings, though.

“I think if you have chronic migraines, you're simply going for relief,” Cramer said, adding he thinks CEO David Pyott will have a lot of good things about the company’s latest quarter.

Allergan’s stock typically trades down after the company reports, Cramer said, so wait for the pullback before buying shares.

Later in the day, Cramer will look for Clorox’s earnings results. The Oakland, Calif.-based company will have an earnings conference call at 1:30 p.m. ET. Cramer likes Clorox because it makes everything from cleaning products, such as Pine-Sol to cat litter under the Fresh Step brand, as well as Hidden Valley Ranch salad dressing and Kingsford’s charcoal, among many other products. People don't stop buying these items because of the economic slowdown, Cramer said. He expects to hear about new additions to its product line and feels confident it will deliver on expectations.